Global Herbal Extracts Market Research Report: by Form, Application and Region - Forecast to 2023

Published - May 2019 | Category - Food & Beverages | No. of Pages - 94 | Published By - Market Research Future

Global Herbal Extracts Market is estimated to reach USD 13,967.5 million by the end of 2023 at a CAGR of 7.52% during the forecast till 2023

The global herbal extracts market has been segmented, by region, into North America, Europe, Asia-Pacific, and rest of the world. North America accounted for the major market share in 2018, due to the increasing use of herbal extracts in various skincare and personal care products by key manufacturers. In North America, the US accounted for 75% market proportion in 2018, and the trend is expected to continue throughout the forecast period of 2018-2023.

Asia-Pacific is anticipated to register the highest growth rate during the forecast period owing to the increasing use of herbal extracts in different industries, such as functional food & beverage, skincare, and pharmaceutical. Asia-Pacific is projected to expand at a growth rate of 8% during the forecast period, where China held the maximum market share of 35% in 2018.

The herbal extracts market in Europe is projected to register the second highest CAGR of 7.61% during the forecast period. The growth of the herbal extracts market is attributed to various factors. Consumers are increasingly opting for herbal medicines instead of traditional medicinal products. Product development and technological upgrades are expected to drive the market in this region throughout the forecast period. In 2018, Germany held the maximum market share of 23.6% in the Europe herbal extracts market.

Global Herbal Extracts Market Major Key Players 

Döhler GmbH (Germany)
Martin Bauer GmbH & Co. KG (Germany)
Vidya Herbs Private Limited (India)
Kalsec Inc. (US)
Organic Herb, Inc. (China)
Synthite Industries Ltd. (India)
Herbal Extraction Group., Inc (China)
Mountain Rose Herbs (US)
Starwest Botanicals, Inc. (US)
Jiaherb, Inc. (China)
Others


 

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